Global Daily Tax News, FinCEN Confirms End Of US Beneficial Ownership Reporting, (Aug 13, 2026)

The US Treasury Department's Financial Crimes Enforcement Network (FinCEN) has issued a final rule that permanently removes the requirement for US companies and US persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act.

The final rule will be effective from its publication in the Federal Register.

Specifically, the final rule:

• adopts the exemptions set out in the interim final rule issued in March 2025, making the rollback of beneficial ownership reporting by US companies permanent;

• exempts US persons who have obtained FinCEN IDs from any obligation to update or correct the information they originally provided to FinCEN to obtain their FinCEN IDs;

• eliminates the requirement for foreign companies to report US person "company applicants" (i.e., the individuals who helped those foreign companies register to do business in the United States);

• exempts foreign-pooled investment vehicles registered in the United States from reporting the beneficial ownership information of a US person in control of the investment vehicle; and

• confirms that FinCEN will delete information about any individuals – company applicants, beneficial owners, or recipients of a FinCEN ID – that FinCEN reasonably believes is a US person (e.g., the information is linked to a US passport or US driver's license).

Under the final rule, foreign entities that are reporting companies will still be required to report beneficial ownership information for foreign individuals.

FinCEN has released guidance on the changes in new Frequently Asked Questions.